New Research on Crop Insurance from Vytautas Magnus University Summarized (New Approach to the Public Authorities’ Activities Development in the Crop Insurance System: Lithuanian Case): Agriculture – Crop Insurance

2022 SEP 13 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- A new study on crop insurance is now available. According to news originating from Kaunas, Lithuania, by NewsRx correspondents, research stated, “This article substantiates the structure of the crop insurance system and describes the participants of the insurance system and their activities.”

Our news reporters obtained a quote from the research from Vytautas Magnus University: “The positive impact of crop insurance development on all participants of the system has also been clarified. The aim of the article is to present a methodology for assessing substantiated directs of activity for public authorities in order to make more active crop insurance system performance. The application of the proposed methodology can help to activate crop insurance processes and to expand farmers’ activities and achieve better commercial results of insurance companies. It has been proven that it is beneficial for the public authorities to reinsure farmers’ crops and to refuse to pay direct payments to farmers for the losses incurred. The criteria selected for the assessment of the development directions are relevant to all participants of the insurance system. The research was carried out in a region of Lithuania in which the composition of agricultural business entities corresponds to the situation in the whole agricultural sector of the country.”

According to the news editors, the research concluded: “The identification of the insurance system participants and their functions, as well as the use of an expert assessment method with the application of quantitative data processing, showed directions for the activation of crop insurance activities.”

For more information on this research see: New Approach to the Public Authorities’ Activities Development in the Crop Insurance System: Lithuanian Case. Agriculture, 2022,12(1279):1279. (Agriculture - http://www.mdpi.com/journal/agriculture). The publisher for Agriculture is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/agriculture12081279.

Our news journalists report that more information may be obtained by contacting Rolandas Drejeris, Faculty of Bioeconomy Development, Vytautas Magnus University, 53361 Kaunas, Lithuania. Additional authors for this research include Martynas Rusteika.

(Our reports deliver fact-based news of research and discoveries from around the world.)